Biodegradable Tableware Market: Current Analysis and Forecast (2021-2027)

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The Global Biodegradable Tableware is Expected to Display an Elevated CAGR of around 6% over the forecast period (2021-2027)

A rise in the number of food chains, QSR, and cafés across the globe is leading to the growth of the biodegradable tableware market. As per the Department for Environment Food & Rural Affairs, the expenditure on food, drinks, and catering was USD 312 billion in the United Kingdom in 2019. Also, Canadian fast-food statistics reveal the Canadian fast-food industry is worth an impressive $27 billion in 2021. It is expected to grow by 0.8% compared to the previous year. Also, The fast-food industry Canada facts show up to 34% of Canadians report dreaming of opening a restaurant, in the coming years and 3.7% are thinking of quick service. Casual and family-style restaurants are the most popular choice, and up to 32.7% would choose that.

Furthermore, the rise in the travel and tourism industry is adding pace to the growth of the market. As per the World Bank, the total number of international tourists in the Asia Pacific region reached 487 million in 2019 high from 396 million in 2015.  Also, a rise in the investment in the hospitality sector is leading to the growing number of hotels and restaurants which is gaining end-users traction, and the market is booming. As per a report by JLL, approximately $7 billion in transactions in 2021, an increase of 20% year-on-year, up from $5.8 billion in 2020. Moreover, in the first half of 20201, In total, 61 hotel investment deals were transacted in the first half of the year across nine countries and representing over 10,000 rooms.

Packaging Waste Generated, Recovered & Recycled, EU, 2010-2018 (Kg per capita)

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Biotrem, DOpla SpA, Huhtamaki, Natural Tableware, Pactiv LLC, Eco-Products, Inc, Al Bayader International, Dart Container Corporation, Reynolds Consumer Products, Cosmos Eco Friends, etc, are some of the prominent players operating in the Biodegradable Tableware market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report

“Amongst raw material, plastic segment holds XX% market share”

Based on the raw material, the market is fragmented into Wood, Plastic, Paper, Husk, and Others. The plastic segment grabbed the XX% market share in 2020. The segment captured USD XX Mn in 2020. Improving consumer awareness regarding sustainable plastic solutions and increasing efforts to eliminate the use of non-biodegradable conventional plastics contribute to the market growth of biodegradable plastics.

“Amongst application, commercial segment to grab considerable market share”

Based on the application, the market is fragmented into households, Commercial, and Others. The commercial segment grabbed XX% market share in 2020 and dominated the market. The segment captured USD XX Mn revenue in 2020. A growing number of quick-service restaurants and cafes across the globe is leading to the growing demand from the commercial sector.

“Amongst product type, bowls segment to grab considerable market share”

Based on the product type, the market is fragmented into Cups, Plates, Bowls, and Others. The bowls segment grabbed the major market share and dominated the market. The market of this segment would reach USD XX Mn by 2027. The key factors contributing to the growing share of this segment are The growing application of biodegradable bowls as packing lunch, Train, airplane meals are leading to the growth of this segment.

“Amongst distribution channel, hypermarkets/supermarkets segment to grab considerable market share in forthcoming years”

Based on the distribution channel, the market is fragmented into Online, Hypermarket/ Supermarket, and Others. The hypermarkets/ supermarkets segment grabbed  XX% market share and captured USD XX Mn market.  A rising number of hypermarket/ supermarket markets across countries is leasing to the growing share of this segment. However, the online segment would witness the highest CAGR during the forthcoming years

“Asia-Pacific represents one of the largest markets of Biodegradable Tableware market”

For a better understanding of the market adoption of the Biodegradable tableware Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific region grabbed XX% market for the Biodegradable tableware Market industry and generated revenue of USD XX Million in 2020. The region is uplifting on account of the rising food and beverages industry. However, the Europe region would witness the highest CAGR during the forthcoming years

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Biodegradable Tableware Market were the three major steps undertaken to create and analyze the demand for Biodegradable Tableware across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Biodegradable Tableware market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Biodegradable Tableware through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Biodegradable Tableware market, we conducted a detailed secondary analysis to gather historical market insights and share for raw material, application, product type, and distribution channel for major regions. Major segments included in the report are raw material and distribution channels. Further region and country-level analyses were conducted to evaluate the overall adoption of Biodegradable Tableware across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Biodegradable Tableware. Further, we conducted factor analysis using dependent and independent variables such as the rising foodservice providers, growth in the hospitality sector, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Biodegradable Tableware industry across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Biodegradable Tableware market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Biodegradable Tableware across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Biodegradable Tableware market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Biodegradable Tableware market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of raw material, application, product type, and distribution channel of the Biodegradable Tableware market.

Main Objective of the Biodegradable Tableware Market Study

The current & future market trends of Biodegradable Tableware were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Biodegradable Tableware in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of raw material, application, product type, and distribution channel
• Define and analysis of the regulatory framework for the Biodegradable Tableware industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Biodegradable Tableware market for the major countries
• The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
• Company profiles of the Biodegradable Tableware market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry